INSOLVENCY

Whether a person or entity is insolvent depends not on whether their liabilities are greater than their assets, but whether they can pay their debts as and when they fall due.

Uther Webster & Evans assists insolvency practitioners, companies, company directors and individuals in handling the many and diverse legal issues that arise with insolvent people and companies.

Our team of experienced reconstruction and insolvency lawyers are committed to achieving the best commercial outcome for our clients. Our focus is on developing a relationship with each client that maximises the benefits of our experience, industry knowledge, commercial realism and flexibility. We provide advice to clients across a broad range of industries.

Uther Webster & Evans provides advice and assistance in relation to individual insolvency, including Bankruptcy and its alternatives, as well as corporate insolvency, including Liquidation, Administration and Receivership. Click on the links below for further information.

Bankruptcy and its alternatives

A person who is insolvent is unable to pay their debts as and when they fall due may become bankrupt. When someone becomes bankrupt, a trustee is appointed to their property.

Corporate Insolvency

A creditor may issue a statutory demand and apply to the Court to appoint a Liquidator to an insolvent company. Alternatively, the shareholders of a company may resolve that a company be wound up and that a Liquidator be appointed. A Liquidator’s role is to investigate the property and affairs of the company. If there are sufficient company assets available, or if monies can be recovered into the company, then a dividend may be paid to creditors.